Pair GBPUSD found support last week at 1.33500, and after that, we have a positive consolidation that has brought us to the current 1.34450. We are slowly entering a certain bullish trend, and we need additional support in the MA20 moving average that could push GBPUSD.
Bullish scenario:
• We need a break above the MA20 moving average, and further positive consolidation climbs us to 1.35,000 psychological zones of resistance.
• A potential break above can lead us to the next upper resistance in the zone around 1.36000.
• At that level, our additional resistance is the MA50 moving average, and with the break above, we come across the next resistance at 1.37000 with the MA200 moving average.
Bearish scenario:
• We need a rejection from the MA20 moving average with a negative consolidation that steers us towards lower levels.
• The first lower support is at 1.33500 this year’s low, and the break below opens us up to new lows this year.
Bullish scenario:
• We need a break above the MA20 moving average, and further positive consolidation climbs us to 1.35,000 psychological zones of resistance.
• A potential break above can lead us to the next upper resistance in the zone around 1.36000.
• At that level, our additional resistance is the MA50 moving average, and with the break above, we come across the next resistance at 1.37000 with the MA200 moving average.
Bearish scenario:
• We need a rejection from the MA20 moving average with a negative consolidation that steers us towards lower levels.
• The first lower support is at 1.33500 this year’s low, and the break below opens us up to new lows this year.
𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐫𝐨𝐤𝐞𝐫𝐚𝐠𝐞 - 𝐒𝐭𝐨𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐅𝐨𝐫𝐞𝐱 𝐍𝐞𝐰𝐬 & 𝐅𝐨𝐫𝐞𝐱 𝐁𝐫𝐨𝐤𝐞𝐫𝐬
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t.me/NFT_crypto_news_trading_signals